Point gain in the dow jones industrials, which puts that not too far away from record territory. We can do that like this in this kind of market. Blake burman at the white house to sort out rumors, everything here. Bottom line, markets propelled own the belief, were closer to something, setting a framework for something. I give it to you. Reporter neil, this is one of those days where you have to separate, put in one bin, what weigh know. You have to separate, put in the other bin, what is out there being reported in the trade spaces, maybe potentially a possibility. Lets start with what we know, which is the act of goodwill, as it has been seen by china and what the u. S. Is describing it as, delaying tariffs increase from october 1st, to october 15th and apparently an ag buy from china, will come with it as well. This is what a spokesperson for the Commerce Ministry said today. Quote we welcome the goodwill by the u. S. So far as i know Chinese Companies have begun to make inquiries
Are slowing down, the Manufacturing Sector in this Country Contracting a little bit. To the wall street journals Jillian Melchior who follows this very closely. Our own susan li as well. Susan, one thing surprised folks with the china data, this was not something to be expected and were seeing more and more data like that, less ominous than thought. Now stronger than thought. Reflation as well in the month of august. I love to remind people that china is no longer just a manufacturing hub. Services like here in the u. S. Account for more than 50 of the economy now. So it is not cheap factory floors. If you go to shanghai, beautiful skyscrapers, really fast train this is very positive, especially for an economy that saw the weakest growth in 2years. Neil one of the reasons why the futures was up. Hang seng was up 4 . It owed itself as well to the talk that they will meet some of the protesters demands. Well get into that in a second. Couldnt you flip it around, say Better Things look fo
Ive been saying this openly. And they have lowered too slow. He took 25. Some people were hoping for 50. He did 25. Im not thrilled with the fed, despite that we have an incredible economy and no inflation. Chairman powells job is safe . Yeah it is safe. Sure, why not . You paused . I dont pause. He has a job, im disappointed in it. Im very disappointed in him. Neil the job is safe because the president cant fire him. Once appointed unless serious malfeasance or crime he is there, he is there for another couple years. Of course the president is free not to reappoint him. That is assuming the president is still in office to decide that. Former Treasury Department economist under president bush 43 David Beckworth with us. Obviously he is not satisfied with the quarterpoint move. He wanted more. We got data today to indicate maybe the fed was wise to make the quarter point and add to that the caveat it is watching other developments. What do you think of the data and confluence and . We s
The 70s that wiped 2 3 of the value of equities. That was then. Is it now . It is hard to say but early indications no. Whats remarkable here my friends, as we look at these numbers how tame they are, considering what is going on. If this were to have occurred back in the 70s and the Worlds Biggest Oil producer which saudi arabia was at time, so much of its oil sidelined we would be in deep you know what. So far does not appear to be the case. Price Futures Group Senior Analyst phil flynn at the cme. Phil, it is remarkable, you know . It really is and you really got to credit the u. S. Energy industry, donald trump and his Energy Policies allowing u. S. Energy producers to do what they do best, that is producing energy. It raises concerns when you listen to the democratic president ial candidates and their Energy Policies what a different story this might have been if we had a democratic president right now. It could have done a lot more damage to the u. S. Economy because these are ca
Down to them, thats where we infractions, that in the obama administration, was deemed not could start to see our initial pushback. On the other hand, its all fair, not right. They lost, time and time again. About having the job. If youve got the job, your now, appealing to the wto to fix wages are going up its not going to happen at this, do something, sort of get least until another year. Neil whats not . Any sort of price hike for this whole trade thing off the the consumer. For it to actually have an ledge. We are far from there. Then the British Development we impact on the consumer, the told you about. Retailer would have to not right now there is secondally absorb it. Not a majority of conservative the vendor would not have to absorb it. Government. Two key leaders opted out. Neil its american retailers and american vendors who are which means Boris Johnson, say a absorbing it. Its a misnomer for the president to say the chinese are paying for this. Miracle roll of the dice here